Mathematics: Suppose a bank has $600 million in deposits and $30 million in required reserves, and it is holding no excess reserves. What is the required reserve ratio? Give your answer to two decimals.

Suppose a bank has $600 million in deposits and - id600308977647, Hellokittyjam35

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26.04.2020

ANSWER:

The 75% of 400 is 300.

SOLUTION:

Given, 75% of 400.

We have to Write and evaluate an expression to find the answer. Then we have explain how to use the model to justify the answer.

Now, let x and y be any two numbers such that, 0 ≤ y ≤ 100

$\text { Then, } y \% \text { of } x \text { will be equal to } \frac{y}{100} \times x$

Now, let us substitute the given values in above expression.

$x=400 \text { and } y=75 \rightarrow \frac{75}{100} \times 400=75 \times 4=300$

We have to do the same procedure for any given values.

Hence, the 75% of 400 is 300.

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